Sunday, February 15, 2009

Affirmative Asininity

There is a stupid new idea circulating, that says corporate boards, executive positions, Wall Street should be forced into greater gender equity. Because, you see, if *women* had been in charge, the credit bubble would never have burst.

"Clearly, something needs to change," said Howard Archer, the managing director of European Forecasting and Analysis at IHS Global Insight in London. "You can argue that the men have made a right mess of it, and now the ladies should have a go."

I could write a book on the stupidity of this, but it's not the type of book I'd prefer to write. So I'll just highlight a few major issues.

1) The financial woes of the US was fueled in large part by deplorable lending practices, where banks gave out credit to people who didn't deserve it. Now. Think for a minute. Is this charitability a MALE problem?

"She" is the pronoun commonly used to refer to Sec. of State Hillary Clinton.

"The Community Reinvestment Act is essential to ensure that banks and other financial institutions provide access to capital to everyone -- from small business loans to low-income mortgages. Access to financial capital for low and moderate income families is critical to the future of our communities and our economy," Senator Clinton said [in 2004].

2) Affirmative action is a terrible concept especially when it comes to employment statistics. I would argue that there are just as many women ceo's right now as there should be. And there are probably just as many stay-at-home husbands as there should be.

[Warren Farrell] argues: women commonly prefer jobs with shorter and more flexible hours to accommodate the demands of family. Compared to men, they generally favor jobs that involve little danger, no travel and good social skills. Such jobs generally pay less." - Why Men Earn More by Wendy McElroy

I know one who preferred the late hours and the travel, and when her son complained about his mom never being home, she countered "how many of your friends' parents call the principle from Japan?" Nice trade, huh?

3) Pot calling the kettle...

Harriet Harman, the minister for women and equality, blasted the banking world for "discrimination and harassment" against women, including using lap-dancing clubs for corporate entertainment.

I can't let this pass. In April 2005 20/20 ran a sweeps week special called "Inside the Lives of Strippers". The show had one memorable quote. One of the featured women looked straight into the camera and said "We're Executives too".

Case closed.

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